Today, the Supreme Court released its decision in McCutcheon v. FEC, invalidating aggregate contribution limits and putting our elections more squarely in the hands of wealthy donors. In 2012, the aggregate limit was $123,200. Some of these donors are not happy.
“I’m poor again as a result. The fundraising consultants are the only winner in today’s decision.”
“We were already getting drained before, now it’s another means to suck out more cash without any actual return on value.
“At this time in the cycle many lobbyists have hit or are quickly approaching the federal max. This decision is like getting to the end of the Marine Corp Marathon and being told you have to run it again.”
“That number was tailor-made for me. It was very comfortable. My guess is I will give the same, maybe a little more. It was a convenient excuse at the end of a cycle.”
"The Supreme Court didn’t give me more money. I have a budget. I don’t have unlimited funds."
“We hate it. We were joking around with the partners today: Guess my kids are going to community college. There is going to be no end in sight. Campaigns now will take as much as you will give.”
“Many times I find myself saying to candidates, ‘I am sorry but my client is federally maxed out. That excuse for these donors is gone, and some people aren’t going to be happy.”
“It’s much more of a curse than a liberation. The sound you heard was the collective groan of all cycle-maxed donors.”
In its McCutcheon v. FEC decision today, the Supreme Court gave the biggest political donors even more power in politics.
Congressman Sarbanes is right—we’ve gotta fight back for a democracy that works for everyday people and not just those who can write big checks.
FIRST IN PI: GWU LAUNCHES LOBBYING MASTER’S PROGRAM: A new Master’s degree program at The George Washington University’s Graduate School of Political Managementwill focus on preparing students for careers in global governance and policy influence. The 39-credit Advocacy in the Global Environment degree is designed to meet today’s global emphasis among corporations, organizations and associations. It will be offered both on campus and online and includes a weeklong study abroad in key international cities.
Graduates will learn to lobby before legislatures of foreign countries, create advocacy plans for multinational corporations, non-profits and NGOs and advise clients on regulatory and policy changes for a foreign country or region.
More from this weekend’s AdelsonFest in Las Vegas:
"The new big-money political landscape — in which a handful of donors can dramatically alter a campaign with just a check or two — explains both the eagerness of busy governors to make pilgrimages to Las Vegas, and the obsession with divining Adelson’s 2016 leanings."
And learn more about the bill at http://ofby.us.
Already, nine states, under Republican control, have passed measures making it harder to vote since the beginning of 2013.
If your electoral hopes depend on fewer people voting you are doing something wrong.— Ben White (@morningmoneyben) March 30, 2014
Even as the presidential public financing system has been all but abandoned, advocates are trying to bring such a system to New York state. What happens there could be a model for other states.
A good summary of today’s politics, via NYT:
"Mr. Adelson’s effort officially kicked off on Wednesday, when lawmakers, including a senator, Lindsey Graham of South Carolina, who has accepted tens of thousands of dollars in donations from the businessman and his family, introduced legislation originally drafted with Mr. Adelson’s lobbyist.”